South West companies among Britain’s fastest growing tech firms

Fast sales figures released today

The 17th annual Sunday Times Hiscox Tech Track 100 league table has ranked Britain’s private technology, media and telecoms companies with the fastest-growing sales.

Two companies headquartered in the southwest of England have grown their sales by an average of 62% a year over three years to a total of £97m, and together they now employ more than 160 people.

The top-ranked company in the region is Qualasept Pharmaxo, a spin-out from Bath University now based in Corsham, which features for the second time. Its Bath ASU business prepares specialist medicines individually tailored to patients’ needs, such as chemotherapy doses, while its Pharmaxo division provides traditional pharmacy and hi-tech homecare services. Sales grew by an average of 77% a year to £93.6m in 2016.

Featuring for the first time is Ratio, based in Bournemouth. Its Choose Wisely website aims to make it simple for customers to pick financial products. Its other diverse offerings include a men’s underwear subscription club, called Briefd, and its Remora artificial intelligence tool for ecommerce sites. The group’s sales grew by an average of 46% a year to £8.8m in 2017.

The companies in the southwest appear with businesses from around Britain, including designer fashion website Farfetch, peer-to-peer lending platform Funding Circle and money transfer provider WorldRemit.

Past stars range from travel search engine Skyscanner, which was bought by Ctrip, China’s largest travel company, for £1.4bn last November, to takeaway website Just Eat, now worth £4.2bn.